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As I stated shortly after retiring from the U.S. Army and first pursuing a seat in Congress in 2010, I planned to self-impose term limits.

I've done a contract with my district. I have term-limited myself. I am not taking the pension. I am not taking pay raises, and my family and I are bringing our own health care to Washington, D.C. And my dad taught me as a kid to lead by example - Congress should not have anything better than the American people.

Today I am announcing that I will not seek a tenth term in the United States Congress this November.

Because terms limits are so popular, the interest of a member of Congress in staying in office would be congruent with supporting my term limits joint resolution.

Given the difficulty of resisting such temptations over the longer run, a proper concern for the welfare of congressional souls may well be the ultimate argument in favor of term limitations.

In December, I agreed to extend the tax cuts for the wealthiest Americans because it was the only way I could prevent a tax hike on middle-class Americans. But we cannot afford $1 trillion worth of tax cuts for every millionaire and billionaire in our society. We can't afford it. And I refuse to renew them again.

I refuse to go along with the status quo of more wasteful federal spending, and I refuse to let the Obama Administration continue to force their misguided ideology through regulatory overreach.

I fundamentally believe in term limits, for Congress, presidents, and board members.

The benefits that were offered to me as a congressman don't even compare to the benefits that you get as a state employee.