We know how much water the surface has. We know how much water is in the air. We know how much is locked up in ice caps. I've done the math, there isn't enough water on the planet.
7:11, etc is painting a picture of how the authors thought about the earths configuration. This matches roughly what the Israelites and neighboring peoples believed the earth system looked like. A disc, not a globe.
This is not unique for the time. Egypt also believed in a similar configuration. Wasn't genesis allegedly written by someone raised as an Egyptian?
At any rate, it's not an accurate portrayal of the earth system.