While Ottawa's top players are playing fantastic hockey right now, the teams depth has not been good at all. Eugene Melnyk needs to open up his check book and take on some salaries if they want to make a push this year.
It is no secret that the Senators are a budget team. Ottawa has not spent to the cap since 2009-10, and ever since then they have been hovering around ~$10 million in cap space. While they are unable to frivolously spend money, owner Eugene Melnyk has said that the team will spend when the time is right.