Last night's Lost finale got 13 million viewers, 2.5 hours each, so that's 32.5 million hours wasted there.
The Superbowl gets ~100 million viewers and lasts... what, three hours? So that's 300 million hours wasted there.
The soccer world cup final is rumoured to get something on the order of a billion viewers, so... that's a lot of hours wasted.
And your entire life, if you never do anything in the least bit worthwhile, will be a waste of approximately 700,000 hours.
even if you mean 'wasted potential work time', who's to say that entertainment in short bursts doesn't increase productivity by preventing burn out?
This sort of talk is often directed at financially stable people, too. Sure, there may be "better" things to do with one's time, but we only have one life to live (that we can acknowledge, anyway) so I feel some leisure time is well deserved.
The vast majority of hours of anyone's life are "wasted" in one sense or another, so it's not my problem how anyone else chooses to waste theirs. I just hope that when I get to the end of my hours that the top few hundred of 'em will be enough to justify the hundreds of thousands I spent doing stuff rapidly forgotten.
Time in which you can do whatever you like is what life is all about. You are truly lucky if you can make money with that but most people cannot.
The amount of 'sick leave' around those days is also well above average.
Offtopic: the Mexico-Uruguay match will be fun :) (yes, Uruguayan here)