Rep. Eric Swalwell (D-Calif.) has accumulated a massive credit card debt, failed to pay off his student loans and cashed out his pension despite earning $174,000 a year since 2013.
Since 2013, when he was first elected into Congress, Swalwell started earning a hefty salary of $174,000 a year. Prior to that, as a prosecutor in an Alameda County and town council member in Dublin, California, he earned around $118,000, according to the last full year of work.
Despite the significant increase in pay, Swalwell currently owes student debt worth between $50,001 and $100,000 — the same level of debt as eight years ago. Meanwhile, his Alameda County pension fund that was worth between $15,001 and $50,000 was cashed out back in 2013.
In 2016, Swalwell noted that he has an investment of $15,001 to $50,000 in a Vanguard retirement account; but as he made the investment, he also racked up a credit card bill of between 10,001 and $15,000 with American Express and between $10,001 and $15,000 with Chase Bank.
Swalwell’s situation worsened the next year, disclosing that his credit card debt with Chase Bank increased to between $15,001 and $50,000. – READ MORE