Sorry folks, but in all reality we already have term limits. It is called voting the people out of office.
I have always been against mandated term limits, as you could actually get rid of some one who might be doing a good job...the job that was intended to be done. Yes, I know that is hard to believe, but, it could happen.
If the majority of people feel some one is NOT doing the job they were elected to do, vote them out. There is your term limits. Their term has just been limited....... '
Tuck, the problem with your argument is that 50% of the people have no skin in the game. They pay no taxes and therefore have no real interest in doing those things that benefit the country. In my opinion, the politicians are pressured by these people to provide free benefits at taxpayer expense or lose their votes. So, they cave even when there is no realistic chance that the government can actually pay for these benefits they provide.
Now, I could agree with your point of view if you included a statement that said only those who actually pay taxes can vote. Otherwise, we need term limits to protect these idiots from themselves, and more importantly, from us, the American taxpayer.