In today’s top news, the seller of Trayvon Martin gun range targets said he sold out of his entire inventory in just two days, Newsweek magazine crowns Obama America’s first gay president and Black churches wrestle with allegiance to Obama and stance on gay marriage.

Seller of Trayvon Martin gun range targets said he sold out of his inventory in two days. [WKMG]

Newsweek magazine crowns Obama America’s first gay president. [ABC]

Black churches wrestle with allegiance to Obama and stance on gay marriage. [USATODAY]

After 42 years in the House, some predict Rep. Charles Rangel may lose his next primary. [Kansas City Star]

Rapper Lil Boosie found not guilty in murder trial. [BET]

A jury convicted William Balfour of killing Jennifer Hudson’s family. [BET]

Tennis champion Serena Williams makes her rap debut. [BET]

Whitney Houston’s daughter, Bobbi Kristina, to star in new Lifetime reality show. [Reuters]

A Panamanian castaway is suing Princess Cruises for not coming to his rescue at sea. [AP]

Uganda captures a senior LRA commander and says Kony capture not far off. [MSNBC]

Human rights lawyer calls Niger Hunger Games “on steroids.” [CNN]

Families are feeling the economic crunch

When it comes to the cost of living, Americans are suffering more than any time in the past 17 years, government figures show. That’s extra bad news for African Americans, because when the rest of the nation has a bellyache, Black America has stomach cancer. Of course, skyrocketing gas and food prices put the squeeze on American families, but rising job losses, falling home prices and stagnant wages and household incomes added to the economic pain, the Labor Department said Wednesday. “The government report confirms what every consumer in America has known for months now: inflation is soaring and it’s having an adverse impact on the economy,” Rich Yamarone, director of economic research at Argus Research, told CNNMoney.com. An earlier reading from Labor showed that the average hourly wage rose by only 3.4 percent over the same one-year period, “meaning the typical American is having trouble keeping up with the price increases,” CNN reports. On Tuesday, Ben Bernanke told Congress to expect for inflation to keep the economy on shaky ground. “Rapid increases in the prices of energy and other commodities … have sapped household purchasing power even as they have boosted inflation,” he told lawmakers. In addition, he cautioned that people are spending less and, if prices continue to rise, business could follow suit, which would further stress the economy.

Family of boxing legend files lawsuit over relative’s death
The family of Vunies High, former heavyweight boxing champion Joe Louis’ sister, is suing an assisted-living center’s parent compnay for $75,000. High wandered outside of The Heatherwood in suburban Detroit in February and was later found dead with her face stuck to the ice. She was 92. Louis lived in Detroit after migrating from the South. He’s regarded as one of the greatest heavyweights in boxing history.

Black singer-dancer to be honored on U.S. stamp

Josephine Baker, the gorgeous Black singer/dancer whose beauty mesmerized France and the rest of Europe during the 1920s and ’30s, is the latest African American to be memorialized on a U.S. postage stamp. Baker’s movie, “Princess Tam-Tam,” is among the five images on the stamps to honor vintage Black cinema. New Jersey, the home of a Black film festival, will hold ceremonies marking to commemorate the sale of the stamps. “I guess that if she was with us today she would be very honored. At her death she was a French citizen, but she never forgot she was born in America,” her son, Jean-Claude Baker, told The Associated Press in an interview. “She would be delighted and very moved.” In addition to her acclaimed singing and dancing, Josephine Baker earned military honors as an undercover agent for the French resistance in World War II. During the 1950s and ’60s, she was active in the Civil Rights Movement, even making an appearance with Dr. Martin Luther King Jr. at the 1963 March on Washington.