Time and TimeAlarms Libraries – Ask here for help or suggestions

I was wondering how to compensate for the lag as the display seems to always be a few seconds off but otherwise this seems to be a great work and library.
I'm trying to make a project that would display the message bellow as such on a LED Matrix and need the time to display as accurate as possible any help with the small lag would be helpful
My Name 5:18:05 Thursday April 17, 2012
or such