Washington (CNN) Democratic Rep. Eric Swalwell announced Monday that he is running for president, telling "Late Show" host Stephen Colbert that he believes the United States is in "quicksand" where Americans feel they are "running in place and it is not adding up to anything."

Swalwell has been contemplating a run for months. The California Democrat has made several trips to early nominating states like Iowa and New Hampshire, telling reporters that he sees a space for a candidate like himself in the race and hinted earlier this month that he was "close to making a decision."

"None of that is going to change until we get a leader who is willing to go big on the issues we take on, be bold in the solutions we offer and do good in the ways that we govern. I am ready to solve these problems. I am running for president of the United States," he told Colbert.

Swalwell, who also filed paperwork with the Federal Election Commission on Monday, added, "Boy, did it feel good to say that."

Swalwell, 38, enters the race as a long-shot candidate in a crowded field of 17 other Democrats, many of whom have more national name recognition, electoral experience and campaign war chests. The field is also slated to get larger in the coming weeks: former Vice President Joe Biden's announcement is looming this month, along with possible entrances by Rep. Seth Moulton, former Virginia Gov. Terry McAuliffe and Georgia Democrat Stacey Abrams.

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