Carolyn Kaster / AP

Canada's Defense Minister Harjit Sajjan has laid out a plan to ramp up Canada's defense spending by 73% over 10 years, per the Financial Times.

That means Canada will spend about 1.4% of its GDP on defense, closer to the 2% spending requirement for NATO member countries (Canada is now near the back of the pack). U.S. Defense Sec. Mattis said he was "heartened" by the news.

Why this matters: A former official told the FT this should be seen as a "capitulation" to pressure from Trump, as P.M. Justin Trudeau did not campaign on defense increases. But Foreign Minister Chrystia Freeland said it's because Canada needs "to set our own clear and sovereign course," an indication that Trudeau's government feels Canada can't rely on the U.S. as it once could.

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Why it matters: Risk in the industry is nothing new. But these are especially turbulent and uncertain times. The industry's market clout has waned, the future of demand is kind of a mystery, and future U.S. policy is too, just to name three.

Meadows on Wray's voter fraud dismissal: "He has a hard time finding emails in his own FBI"

White House chief of staff Mark Meadows dismissed FBI Director Chris Wray's testimony that the U.S. has never historically seen evidence of widespread voter fraud, including by mail, during an appearance on "CBS This Morning" on Friday.

Why it matters: Meadows' statement highlights the Trump administration's strategy to sow doubt in November's election results by challenging the legitimacy of mail-in ballots, which are expected to skew heavily in Democrats' favor.

The next cliff for the unemployed

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A program supporting Americans who are typically ineligible for unemployment benefits will expire at the end of the year, with millions still relying on it as the labor market sputters.

Why it matters: The result could be catastrophic for the economic recovery that Wall Street fears is already fragile.

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