That's how much the state of Illinois owed, as of July 1, in back payments to schools, municipalities, and social service providers. Comptroller Dan Hynes' latest quarterly report (PDF) shows that to pay off its obligations this year, the General Assembly would need to divert 23 percent of its FY 2011 revenues.

Barring a legislative miracle, next year could be even worse. Revenues are barely increasing. In just the first three months of the current fiscal year, Illinois has amassed a total of $3.5 billion in unpaid bills. That means $8 billion in late payments could carry over into FY 2012, which begins next July. It's an ugly problem without an easy solution.