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Haha, good luck with that. Both players are going to get huge salaries. You can't afford both.
Yes they can, very easily. The first year of a 5, 6, 7 year deal will probably range from $3-6M against the cap. If you have $31M this season, that's $31M you can spend on contracts in their first year. Not the entire length of the deal. If you're team has a check happy owner, increasing the signing bonus but lowering the base salary would allow even more immediate room (Redskins is an example).
Technically speaking a $25-30M+ cap room team could easily sign Steinbach, Clements and Thomas, they'd just be putting themselves into a reasonably sticky situation when the yearly totals escalate in the next few seasons.
The reason you typically don't see this is because it isn't a smart way to build a team as free agent spending is mostly seen as a way to fill holes, not build a team, and if you happened to have so many holes that the top 3 free agents are on your want list, chances are you're a team that will struggle to attract 3 top tier free agents anyway.