Ok, here's what happened. I'm playing NHL 2007, an Atlanta Thrashers dynasty. After completing the first season and the draft/free agent period, I got ready for season number 2.
Before the first game of the year against Tampa Bay, I checked my finances. I was 2 million UNDER the salary cap (the cap said it was 46 million, I figured that after each season it gets a little boost). I played the game against the Lightning, won in OT, and got ready for the next game against Florida.
I did NOT sign any new players between the Lightning game and the Panther one. I did not restructure any contracts. I did nothing with my salaries, and yet instead of being 2 million under the cap like I was at the Lightning game, I'm now suddenly just about a million OVER it. The game will not let me play the 2nd game against the Panthers. Interestingly enough, the Panthers (and quite a few other teams) are also over the cap themselves (the Panthers are way over, at 49 million. But computer teams don't have to worry about the salary cap, do they?

).
So is this a bug? Did the game inflate my salary cap and then remove the extra cap room after the first game?
Oh, and I tried editing players salaries in NHLView. I brought Hossa and Kovalchuk salaries down a bit (about a million each), but it still says I'm over. (Yes, I saved in NHLView after making the changes.)