we can't drop thay cash on one player and strengthen nowhere else

The fact that you're in that kind of situation, is pretty much Wenger's fault. You can't win two consecutive FA Cup titles, two consecutive Community Shields, finish top 3, and complain about being underdogs. Building a title contending team out of scratch is hard, of course it is. Liverpool did it, and all it took was Suarez and Sturridge. Last season, we brought in Fabregas and Costa for a bargain price, and they were the difference between finishing third in 2014, and winning the title in 2015. How can you sit there and say your team needs that much strengthening? Its the basis of my point: you're talking about the consecutive FA Cup holders. You're not some small fish in a big pond, you're the big fish. Why do you still consider your team insufficient? Well you tell me, because surely its not because you can't spend, maybe its because you spent it on all the wrong players. (Welbeck, Debuchy, and Cech sort of ring a bell...)

why we are one of the only clubs not in debt at all?

That's all well and good, but its not something you can wave around when no other club geniunely gives a shit. Debt is a funny thing, because you're either heavily in debt to the point where bankruptcy is imminent, or your debt is so small you dont even have to consider it. To wash away debt, you need to get funds, to get funds you need to win titles and make sponsor deals. Frankly, Arsenal have only recently gotten a hang of that again. So again, that debt card? Don't wave it around, its essentially irrelevant in the short term. If Walcott can be on 120k, and both Giroud and Cech are on 100k, then wages aren't really much of a sore point, are they?