Brat, the arguments and fingerpointing over defense spending in NATO has a long and rancorous history over the course of five or six decades, and remains a source of considerable frustration to the governments who tend to achieve that goal versus those who don't even try.
Short arms, deep pockets.
Perhaps. The very real political problem is that in Canada, in order for the government to realistically support an increase to 2% (be it in the next year or in the next five years) that increase in defense spending has to be sold politically both within parliament and to the public at large. I have serious doubts that "we need to increase our defense spending to make sure we can buy F-35's" is how the Canadian government's leaders who support an increase will try to sell the increase (in the usual political process of back scratching and deal making).
F-35 isn't the only program, nor project, that needs funding or upgrade.