The Russians won't get serious...as we've discussed on various other threads, the chance of a peer-to-peer conflict with Russia is practically nil.
Subverting tactics with corrupt politicians & little green men? Perhaps. Well financed separatists? Perhaps. False Flag operations? Perhaps.
Full on war with Russia? Practically nil. For various reasons we've discussed elsewhere...
Are they to be taken seriously? Absolutely. They can mass a huge amount of people, capable air power, capable transport capabilities, and capable REGIONAL naval capabilities, absolutely. Could they cause NATO a huge headache is conflict erupted? Absolutely.
I personally like the suggestion that FJAG made in another thread a few days ago. Using GDP as a measuring stick isn't accurate nor is it useful in terms of capabilities...using a AAA+ system would be more accurate. 2% of GDP spent poorly, or spent on a bureaucracy that is unable to procure modern equipment, won't do anybody any good.
Spending 1.5% of GDP and streamlining our systems so we can procure & deploy useful capabilities would be much better. Having a mindset both within government AND within senior DND leadership that we need to procure modern equipment & be able to deploy it usefully within the alliance would go far further than $$ these days...especially since we return $$ to the government each year because we are unable to spend it.
Do what the Australians did - decide what force structure we need, and buy the equipment for it. Simple. Run competitions as needed, make a decision, buy it. Money isn't our issue, it's poor leadership from the public works/DND procurement/government side of things that is the issue. (Look at how quickly we can procure C-17's, Chinooks, Leopard 2's, etc when the leadership is there & working together.)
Also, I would suggest as an alliance we take a look at overlapping capabilities. Does country X and country Y both need to deploy the same capabilities, or could country X focus on being really good at one capability, while country Y is really good at another? Would better use of defense dollars within member countries might go a long way to enhancing capabilities without hugely increased budgets?
^^ Summary of rant...some countries, including very much us, need to spend our dollars more efficiently before we start asking for larger budgets. Once we spend our dollars efficiently & procure capabilities that would be useful to the organization -- then we can start asking for more money, if there isn't enough for us to fulfill what we decide we need to do. Spending more $ just for the sake of spending more $ isn't going to change anything.