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[Orser67]

Even though I don't think it's particularly likely to happen in America any time soon, a strong executive taking power in a democracy and slowly turning it into a dictatorship seems to be one of if not the main way that democracies fall.  Term limits would if nothing else be a huge impediment to a wanna-be dictator president who would have to get both 2/3 and of congress and 3/4 of the states to approve of his hypothetical desire to be president for life.

Even though term limits for the presidency are anti-democratic and not likely to be relevant very often, the risk of repealing the presidential term limits does not outweigh the reward.  I don't care as much about governors although it seems like a good anti-corruption measure as others have pointed out.