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The number of U.S. Army soldiers on active duty is at its lowest level since 1940, according to a new report.

The Army Times reported this weekend that the Army's endstrength for March was 479,172. That's 154 fewer soldiers than the service's previous post-World War II low, which was reached during the Army's post-Cold War drawdown in 1999.

And the reduction in the number of troops is expected to continue under a reduction plan which will see a shrink of forces to 450,000 by the end of FY 2018.

The Army has cited a tough budget environment for the cuts, but Lt. Col. Oliver North chalks it up to a failure of President Obama "on the process of defining and prioritizing our adversaries."

"He is going to Japan, he is going to go to Hiroshima and he’s going to talk about a world without nukes," North said On the Record. "That's lala land. That’s utopia. That’s never going to happen…He failed national security 101."

North said that nuclear annihilation is "the greatest risk we face as a country."

He said that the next president will have his or her work cut out for them on rebuilding the military.

"The next president has got to start rebuilding this military. He has got to deal with the existential threats to this country."

Watch the interview above.

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