The reason why people keep wanting to tinker with the government is that it doesn't do what they want it to.
The tax debate, and (sorry RM, I love ya but have to disagree here) the fee increases, etc that people rail about didn't happen because of term limits. They happened because there was a legitimate debate about the size and scope of government, and one side lost.
Changing the Constitution won't change this. Can anyone point to anything that has happened post term limits that can be blamed exclusively on term limits? Or is that just a scapegoat because our side lost? Or there scapegoat when they lose?
Government shutdown pre term limits? Check
Tax increases pre term limits? Check
Expansion of the Executive Departments because the legislature wasn't fulfilling it's role? Check
Budget deficits causing problems? Check
"Special Interests" having too much influence? Check
And the list goes on and on...
We didn't run perfectly pre term limits, and we don't run that way now for a more basic reason.
Our Constitution, and the Federal, are excellent documents that spell out specific functions and are masterfully crafted "how to" manuals on how to run things. (for the most part, at least)
Except for one problem. The problem that has plagued all societies since the beginning.
What is this fault that cannot be gotten rid of, that keeps everything from working properly?
US. Human beings. We fight, we argue, we don't get our way, we try and find ways around things... and no document written can stop us.
The compromises reached, and the checks and blances implemented, seek to address these. And in theory they do a good job. But someone will find some way to get around them.
So things muddle along, and they get worse, and rather than stand up and educate and make arguments and win over the electorate, both sides throw mud and decry "negative politics" and "special interests" and "partisanship" and all the other alien powers that keep us from getting our way.
And why does all this happen? Because politics is that important.
And we will never change that.