That should have been done long ago but guess who gets to write that little bit of legislation? Our congresscritters who vote themselves the treasury.
Fat chance EVER seeing terms limits in our lifetime. The view is too sweet for them career politicians.
Maybe democracies perish even sooner: we only need a few congressmen and senators to vote themselves into a virtual nobility and remain there so as long as they distribute a few crumbs to the mass of idiots.