It seems the short-sighted of the world (the brits, the chinese, and canadians) are leading a move to abolish the leap second. It's "time" to insert one again soon, but several countries are opposing this necessary time change and even seeking to abolish it permanently. http://www.foxnews.com/scitech/2012/01/18/time-may-be-up-for-leap-second/
I wrote a very detailed account of the mechanics and reasoning behind the leap second in a post here called Time Out of Mind. Abolishing the leap second will result in a discrepancy of about 15 seconds over 100 years between our physical time on earth and the atomic clocks. You let this go and pretty soon, we'll be rounding pi to 3.