I respect Canadian's decision, but I don't understand it.
If they really didn't have to pay for anything and just give the US land, then do they really have a reason to oppose it? For a country that is supposed to be a good ally of the US, they don't seem to be acting like it.
My person opinion is that Canada is trying to assert itself as a sovereign nation, rather than being viewed as the 51st state. This coupled with the disdain for Bush and all things military, I am not at all surprised with Canada's decision.
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