This may seem very simple, but I can't figure it out.
I'm using wglUseFontBitmaps to draw 2D text in a 2D overlay, kinda like a HUD in a 3D game.
Now I want to use the 2D text in the 3D environment. An object with a 3D coordinate should have a flat text with info about it straight above it.

Right now I use glRasterPos2f to position the text. I've messed with glRasterPos3f, gluPerspective, glOrtho, switched the matrix mode between GL_PROJECTION and GL_MODELVIEW, etc; either it shows nothing or it ignores the depth and just draws it like it does the HUD text.

Any ideas on how to tackle this?