A little correction if I may. We have not done peacekeeping since the failed mission in Rwanda and we have not had a direct NATO European contribution since the nineties. NORAD is a no fail mission and something that we do do. Harper gets a lot of flack but he did rebuild the Army's six Mechanized Infantry battle groups as well as the countries Strategic and tactical lift. 
Importantly for our civilian economy Harper spent close to 4 Billion on base construction projects all across Canada. The rebuild of the Halifax class is another quiet success storey of the last ten years. The Dewolfe class is under construction with HMCS Dewolfe probably leaving the barn in April or May this year. Icebreakers done.

 We should buy 24 F-15E'S and base them in RAF Lakenheath with the Yanks Then buy the mature F-35's in ten years. Buy three Virginia class Subs as well as 4 Burke Class destroyers. The Yanks maintain the subs and load the Burkes with SM-6's for ballistic missile defence.