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Procrastination Nation 

the act procrastinating, thus joining a nation of other procrastinators in your attempts to put off your work. often exclaimed loudly when the person realizes they are procrastinating or told to friends via text message or facebook status. can sometimes be said in unison if two or more people are procrastinating together.
Ex.1

-guy 1- hey man, have you finished that history paper yet?

-guy 2- no way, ive been watching TV all night. Procrasination Nation!

Ex.2

-guy 1- im totally procrastinating right now, i haven't even started on a project thats due tomorrow.

-guy 2- me neither. im just gonna play Xbox or watch tv.

-guy 1 and 2- (in unison) Procrastination Nation!

procrastinationbation

masturbation that is used as an excuse to procrastinate doing something
Guy1: Dude, I didn't get around to my history paper last night... i had a bad case of procrastinationbation. I couldn't get off the porn!
Guy2: SMH.