What can you possibly accomplish on Facebook for 7 hours a week? I can understand the needed distraction here and there or the defined communication with friends but really?*
I'll stop my inflammatory rant because I'm going to assume you're a reasonably smart cookie because you're here. But really?
*for a 6 month personal experiment I deactivated my FB account and defriended, 2% of current friends per reactivation (17 times each under an hour) and could argue that I still have a top 5% social life.