I think instead of term limits, we should adopt recall measures, especially for Senators, where either a certain percentage of voters signatures or a super majority in the state legislator can call for an immediate vote on whether or not the said Congressman or Senator should be fired.
Think of how many would have been recalled during the bail outs! Might make them think twice before they go all kids in a candy store on us again.
Unless they die in office that eventuality always occurs(not facing voters again to be re-elected). Plus, there is a reason we have lots of representatives, two houses of Congress, a president, and a Supreme Court. And finally, what have we got to lose? The idea of term limits has a genesis and a reason.