I have mixed views on procrastination. Some of the more intelligent men I have known have tended to work in the wait, wait, GO way you described. As Mohammed Ali said "float like a butterfly, sting like a bee." I think procrastination can be a good thing and a natural part of an effective work style.
I'm the work horse type who likes to be done early. For much of my life, I simply did not procrastinate for very long on any task. Then I encountered the idea that I might be making more work for myself. Think of planning a vacation as a good example of something that can be overdone. I learned that when I didn't want to do something I did a worse job than when I did. I learned that when I felt like waiting and did, sometimes new information would arrive, making my intended actions counter-productive. It's possible to screw things up for yourself just being unwilling to procrastinate.
I absolutely see the dynamic you describe: people are working harder and still living paycheck to paycheck and it becomes demoralizing so that they don't want to anymore. That's the worst kind of life. The worst part of it is that the work, itself, might be very rewarding. I worked on an organic farm and would be there still if the pay could support a person year-round. That job was only six months of the year, so you have to have a winter job ready or you'll just have to find a different job. So many people are making it just enough to keep themselves from being able to admit that they aren't really making it. Anyone who uses Quicken or other software that shows what percentage of your paycheck goes to taxes is aware that it's not just some imperceptible token. Taxes have been the largest expenditure in my household for years. It's really defeating to realize that no matter how hard you scrimp, you'll still be struggling. A government taking so much should be giving more back. Or...just not taking so much.
I like that you ended on a positive note. Thanks for the thought-provoking read. :)