I was told there was not enough work to justify overtime and denied a small raise because it’s not in the budget on the same day they hire a new employee. How is there not enough work or money fore but enough to justify an entire additional worker and their paycheck?

I just don't get it. I can't work 5 more hours a week but they can increase work hours by 40. I can't get 2 dollars more an hour but there is budget for someone else to get 20? I'm notad at the new guy, people need jobs, but I'm just seriously disgruntled and needed to vent.