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Depending on how much in the red you are, you don't need to sign picks on the day of the draft, you do have some time afterwards. So if you have a few high-priced players you can trade, that can sometimes give you a little more budget space, even if your actual "Draft budget" isn't high enough for the players you need. But if you're deep in the red, that may not help enough.
The other option is you draft a player and do not sign them, in which case you'll get the 2nd overall pick next year as compensation. You'll need to be sure you have a lot more budget space next year, but it's at least some consolation.
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