American consulate staffer killed in protests

Protests against the US in Egypr, Libya
A controversial movie criticizing Islam sparked protests against the United States in Egypt and Libya, where the U.S. State ambassador and others were killed in the violence in Benghazi, Libya.

According to the Wall Street Journal, the movie, “Innocence of Muslims,” is the work of fringe pastor Terry Jones, whose burning of Qurans previously sparked deadly riots around the world.

US Economy
Moody’s has issued a warning to the US that without some movement on debt reduction, its rating could be lowered. This eventuality looked more certain as members of Congress continued to hold to their positions making a deal on avoiding the fiscal cliff more unlikely.

As the Federal Reserve prepares to cut benchmark rates, some question whether the economy is as good as it will get in the world of the “new normal?”

Quick Hits
Are green energy projects hurting the Chinese economy?

In Chicago a fight between teacher unions and city administrators is placing students at risk.

Euro rescue fund is backed by German courts providing Chancellor Angela Merkel with a rare victory.

Killing al-Qaeda’s second-in-command is a positive development, but will not slow the terrorists.

 

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