Joshua Huffman

At a glance, it looks like Jimson Weed to me, something from the Datura family. As already mentioned, it's hard to know for sure until it matures, but that would be my guess. My brother has it as an ornamental "moon flower" in his front yard, and a slightly different variety has been growing wild in my parents field for decades. I'm not an expert, but that's what it looks like to me.
http://en.wikipedia.org/wiki/Jimson_weed

I cast my vote for Dead Nettle. You can eat it, but in my opinion it tastes like dirt. I'm sorry. I mean, it has an "earthy" flavor to it. A member of the mint family. It's all over my yard, but I don't do anything with it. I just like to watch them shoot up in the springtime. Shallow roots don't really compete with anything.

I know this topic is almost a year old, but I thought I would add my opinion for future permies browsing old topics (such as myself). It looks a lot like what my parents have on top of their root cellar. In the same family as the black and honey locust, but a different type. Theirs is technically classified as a shrub. If you want it gone, keep it mowed down. The ones on top of my folks' root cellar is where the lawn mower can't reach. I don't know how it was introduced, but It's been there for 20 years now. The oldest and largest is about 10ft tall with a trunk diameter of approx 4 1/2 inches. Theirs spread by roots, and once established, the root system is damn near impossible to kill. Its branches I would call "fuzzy" but there are thorns on the older and more developed parts. Flowers are pink and look similar to pea blossoms.

This is what my parents have:
http://en.wikipedia.org/wiki/Robinia_hispida

I don't know if that's what plant that is, but it's a possibility. If you want it gone, I recommend keeping it cut down as if your life depended on it. It is prolific. Or you could turn it into a resource. The bees LOVE the flowers, and the wood can but put to use in some way.