I favor term limits, but we DO have it now - it's called the ballot box. Sure pols have made it tough by "redistricting", but if voters stay informed and vote, it's possible. Too many voters are NOT informed - just look at how this admin "sold" their war in Iraq...scare enough people and they go along with anything.
No different than the sultans in the Middle East -- just done under the guise of "Democracy." Power corrupts, and once those in power could make the rules, they would never vote for term limits. This one change alone would do wonders for all the crooked activities and wasted billions of dollars.