It appears the PayPal drama is garnering a fair bit of attention at the moment. Indian PayPal account holders have a withdrawal limitation of $2500 at the moment. Now the strange part is some people are complaining that in their PayPal accounts, this limitation is almost like a yearly limitation but that could be a default setting. Others have agreed that it’s a monthly limitation. This PayPal secret will unfold only once July ends.

It would be wiser to check the PayPal limitation once the month of August, 2010 begins. Most who’re checking their PayPal check/cheque withdrawal limits at the moment find that they can’t withdraw $2,500 and have lower limits. This can be attributed to the fact that all PayPal NEFT transactions made for the month have been deducted from the $2,500 limit. As such, if you have withdrawn PayPal funds via NEFT to the tune of $1,500, your check/cheque withdrawal amount will now show up as $1,000.

The PayPal check/cheque withdrawal limit should again reflect as $2,500 in August, 2010 but that’s yet to be seen. This is a decent PayPal limitation for most of us but it appears that such a limitation is shaping up as a tight noose for those doing big business. It’s not a crime to earn more money, so PayPal limitations must be assessed.

The reason we’re discussing this is because the PayPal NEFT withdrawal limitation may not be withdrawn overnight, and people may need to start considering PayPal check/cheque withdrawals.

Furthermore there’s another PayPal clause keeping the rumor mills active. Please be reminded that any payments received into your PayPal account from the export of goods and services cannot be re-used for making purchases or any other payments. I’m yet to find out more about this, and will update this space once I chance upon any PayPal updates.

For some who thought recession was a transition period, and the jobs would come back, the dream has been shattered. Not only is there an acute job shortage, more, and more people are still getting laid off. For those who thought it was a break that would yield positive results, the future is still dismal. Many who used the break to educate themselves formally are now left stranded with their inability to find a job, or repay their education loan. For others the dark cloud just won’t recede with many having been largely jobless for around 2 years now.

As such, most that have been laid-off are now faced with a serious financial crunch. They have also outgrown their unemployment benefits. As such, people are pressing Unemployment Extension, as this would result in minimal disposable income for those who aren’t yet able to find job security.

The Republicans continued filibustering of the H.R. 4213 bill, especially the unemployment extension is certainly not going down well with the American people, and have also adversely affected the popularity of the people’s president, Barack Obama.

The Senate has held back on unemployment extension because such a measure will drain the government coffer to the tune of approximately $80 billion in the form of deficit spending. It’s easy to understand that the American economy is already wheeling under heavy pressure, and additional spending doesn’t seem right at the moment. So, while the Republicans stand their ground, many an American finds the ground beneath their feet slipping away.

Recent recessionary patterns as we know, have hit most in a way one could have never imagined. The fallouts have been many, and certain aspects have gained a severity that’s hard to balance. It’s not difficult to understand that recession has forced people to rethink about spending every penny, but now even those precautions aren’t helping any more with unemployment here to stay.

The H.R. 4213 bill, amongst other things, holds policy laying parameters for unemployment extension. The Unemployment Extension, a US federal government program aimed at helping American states to offer unemployment benefits to those who’ve been given the pink slip without being at fault. The ongoing financial meltdown saw many a company shut shop, dwindle away to non-recognition, and file for bankruptcy amongst others. Many companies that survived, did so, by laying off staff. Most attributed the need to lay off workforce in order to reduce operation costs to deal with recession. Of course, gossip behind the scene suggests that some companies chose to lay off staff because the timing was right, but that’s another debate altogether.

Back to the need for an Unemployment Extension in the H.R. 4213 bill. Current Unemployment Extension provisions allow laid-off workers who aren’t able to find a job for an extensive time period to work their way through 4 additional tiers of extended benefits. This allows them to seek unemployment income for a maximum possible period until this benefit is withdrawn for an individual.

Up until the recession storm swooped in on the US, this seemed to work well and even cut out malpractices leading to false claims. However, the scenario has changed completely in a few short months. Earlier, unemployment income bore a distinct character. It was needed by those in the lower income group, unskilled labor, those who weren’t educated to get a permanent job, and many other individuals with a similar societal setup. All that has now been erased, and in addition to those who didn’t have jobs earlier, the urban population that at one time spoke about job stability has joined the unemployed wagon.