Yes, $72 TRILLION($72,000,000,000,000), which is actually $12 trillion more than the annual economic output of all of planet Earth.
This sort of ridiculousness is exactly why the general public will never take the RIAA seriously. Other recording industry lobby groups also find themselves tarnished, even though they don't deserve the same disdain as the RIAA.
You may remember that Limewire was shut down and declared guilty in trafficking in copyrighted material. Since last year, the two sides have been haggling about how much in damages Limewire should pay.
Here's how it all breaks down from the RIAA's perspective. The lawsuit against Limewire contended that there were 11,000 songs infringed (if you ever used Limewire, you'll know that the actual number is exponentially higher) and believes that rights holders should be compensated for each and every time each and every one of those songs was downloaded.
What kind of compensation? The RIAA wanted $150,000 per song per download. When they did their calculations based on the total number of downloads, they came up with the $72 trillion figure.
Fortunately, Judge Kimba Wood sees that the RIAA is full of shit so she's rejected their argument. She's declared that the RIAA is due (at most) one-time compensation for each infringed song. Even at that level, Limewire still faces a damages penalty of well over $1 billion.
There's some dispute over the veracity of the $72 trillion figure. Here's the dissenting article. And no, it doesn't come from the RIAA.