We generalize a proposal by Sørensen et al. [Phys. Rev. Lett. 94, 086803 (2005)] for creating an artificial magnetic field in a cold atom system on a square optical lattice. This leads us to an effective lattice model with tunable spatially periodic modulation of the artificial magnetic field and the hopping amplitude. When there is an average flux of half a flux quantum per plaquette the spectrum of low-energy excitations can be described by massless Dirac fermions in which the usually doubly degenerate Dirac cones split into cones with different "speeds of light" which can be tuned to give a single Dirac cone and a flat band. These gapless birefringent Dirac fermions arise because of broken chiral symmetry in the kinetic energy term of the effective low energy Hamiltonian. We characterize the effects of various perturbations to the low-energy spectrum, including staggered potentials, interactions, and domain wall topological defects. PACS numbers: 71.10.Fd, 37.10.Jk, 05.30.Fk, 71.10.Pm With the discovery of graphene [1] and topological insulators [2] there has been much recent interest in systems in which low energy excitations can be described using Dirac fermions. A parallel area of interest has been the exploration of the possibility of generating artificial magnetic fields for cold atoms confined in an optical lattice. Neutral bosonic cold atoms cannot couple to a magnetic field directly, so there have been numerous proposals [3-6] of approaches to couple atoms to an artificial magnetic field, several of which have been implemented experimentally [7,8].The problem of the spectrum of quantum particles in a uniform magnetic field on a lattice has the well-known Hofstadter spectrum [9]. Our modification of the proposal by Sørensen et al. [6] leads to an effective Hamiltonian with a tunable Hofstadter-like spectrum that arises from the combination of hopping and an artificial magnetic field with a non-zero average that are both periodically modulated in the x and the y directions. The presence of spatial periodicity in the amplitude as well as the phase of the hopping is the key difference between the model we consider here and previous work on the spectrum of particles in the presence of magnetic fields that are periodic in both the x and y directions [10]. This difference facilitates the unusual Dirac-like spectrum that we discuss in this Letter. In our effective model, when there is an average of half a flux quantum per plaquette, and at half-filling, the low energy degrees of freedom can be described by a Dirac Hamiltonian with the unusual property that chiral symmetry is broken in the kinetic energy rather than via mass terms. This has the consequence that the doubly degenerate Dirac cone for massless fermions splits into two cones with tunable distinct slopes, analagous to a situation in which there are two speeds of light for fermionic excitations, similar to birefringence of light in crystals such as calcite. We discuss the meaning of broken chiral symmetry in our effective model and explore the ef...