Something is definitely wrong.. 
$ sudo hwclock; sudo date
Thu 25 Sep 2008 07:17:48 PM CEST  -0.544369 seconds
Thu Sep 25 19:36:19 CEST 2008

$ cat /etc/ntp.conf 
# /etc/ntp.conf, configuration for ntpd; see ntp.conf(5) for help

driftfile /var/lib/ntp/ntp.drift


# Enable this if you want statistics to be logged.
#statsdir /var/log/ntpstats/

statistics loopstats peerstats clockstats
filegen loopstats file loopstats type day enable
filegen peerstats file peerstats type day enable
filegen clockstats file clockstats type day enable


# You do need to talk to an NTP server or two (or three).


# Access control configuration; see /usr/share/doc/ntp-doc/html/accopt.html for
# details.  The web page 
<http://support.ntp.org/bin/view/Support/AccessRestrictions>
# might also be helpful.
#
# Note that "restrict" applies to both servers and clients, so a configuration
# that might be intended to block requests from certain clients could also end
# up blocking replies from your own upstream servers.

# By default, exchange time with everybody, but don't allow configuration.
restrict -4 default kod notrap nomodify nopeer noquery
restrict -6 default kod notrap nomodify nopeer noquery

# Local users may interrogate the ntp server more closely.
restrict 127.0.0.1
restrict ::1

# Clients from this (example!) subnet have unlimited access, but only if
# cryptographically authenticated.
#restrict 192.168.123.0 mask 255.255.255.0 notrust


# If you want to provide time to your local subnet, change the next line.
# (Again, the address is an example only.)
#broadcast 192.168.123.255

# If you want to listen to time broadcasts on your local subnet, de-comment the
# next lines.  Please do this only if you trust everybody on the network!
#disable auth
#broadcastclient
server time.nist.gov 
server ntp.nasa.gov


** Changed in: ubuntu
     Assignee: (unassigned) => Ubuntu Desktop Bugs (desktop-bugs)

-- 
time jumps ahead 10-20 minutes no matter the ntp server
https://bugs.launchpad.net/bugs/104091
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