Swalwell Drops Out Of 2020 Democratic Primary Race

Update: As expected, Swalwell has officially dropped out of the race. In a statement, the Congressman said that his polling and fundraising numbers following the first Democratic debate were not what he had hoped. Because of this, he believes it's time to end the campaign before he wastes anymore time or money.

To try and spin his decision to run as a positive (and not an act of deluded self-importance), Swalwell took credit for "three top tier candidates" adopting "my idea" of banning assault weapons, then buying back every assault weapon in the country.

But God forbid the poll of Democratic contenders should shrink below two dozen: Billionaire Tom Steyer has reportedly told several people close to him that he will launch his campaign tomorrow - since the one thing the Democratic field lacks is a billionaire (since Bloomberg opted not to run and Howard Schultz only toyed with running as an independent).

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Billionaire Tom Steyer is toying with the possibility of joining the crowded field of Democratic primary contenders, but for the first time, there are rumors that one of the many second-tier candidates polling in the low single-digits might be about to drop out. 

ABC 7 reports that Bay Area Congressman Eric Swalwell is preparing to hold a news conference on Monday where he's expected to suspend his campaign. The news conference will be held at 4 pm ET (1 pm PT) at his campaign headquarters in Dublin, Calif. Swalwell reportedly cancelled several campaign events last week.

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Swalwell, who launched his campaign back in April during an appearance on 'the Late Show' with Stephen Colbert, was among the candidates who tried to focus on one issue - in Swalwell's case, that issue was gun control.

His campaign bragged about having the "most comprehensive" plan for gun control legislation (Swalwell infamously joked that he would 'nuke' gun owners if he had the chance).

But Swalwell's campaign struggled in obscurity right out of the gate, a sign that, for all of the media uproar about gun control in the aftermath of a mass shooting, a slight majority of Americans oppose stricter gun control regulations.

With the bar for participating in this fall's primary debates even higher than the initial debate, it's unlikely that Swalwell would even qualify.

The four-term congressman has said that he would still consider running for a fifth term in the House if his presidential campaign doesn't pan out. He has until December to figure that out.

Many of the more obscure Democratic challengers say that they're only running to try and have an impact on the Democratic Party platform, like Bernie Sanders did with his breakout 2016 run. But regardless of how much money Swalwell raised (we doubt it was very much at all), we can't help but wonder: What did Congressman Swalwell accomplish with this whole exercise? And will his decision to drop out inspire other long shot candidates to follow suit?

At least once Swalwell is back on Capitol Hill, he can refocus his energy on peddling conspiracy theories like the notion that President Trump is a Russian agent.