European leaders are still battling over austerity. The United States Congress is gearing up for another fight over the budget. But in Saudi Arabia, there are no such troubles when you are king — and you just dole out billions and billions of dollars to ordinary Saudis by royal decree. Not surprisingly, Saudis are very happy with their new monarch, King Salman. "It is party time for Saudi Arabia right now," said John Sfakianakis, the Riyadh-based Middle East director of the Ashmore Group, an investment company, who estimates that the king's post-coronation giveaway will ultimately cost more than $32 billion. That is a lot of cash, more, for example, than the entire annual budget for Nigeria, which has Africa's largest economy.