You lost me at the word "electing".
I really like federal court term limits, but I'm also not into electing any judges. The only case where I could support it would be as an emergency backdrop to resolve confirmation battles like what's happening right now with Scalia's seat. When there hasn't been a confirmation by the next general election, perhaps we should have the senate majority and the president refer their top choices to the GE ballot?
Well at least you are only half misguided on this.
Court term limits obliterate equal justice, degrading it on a cyclical basis determined by the length remaining in the term.
As for elected Judges, they became essentially another branch of the legislature, which is a trend that has already progressed too far as it is.