Apparently a bill was introduced in Congress to repeal the 22nd Amendment, which limits the number of terms a president can serve:
House Joint Resolution 5 was introduced on January 6, 2009.
This speaks for itself; I have no further comments.
OK. I lied. Here is a comment: An anonymous commenter pointed out that Jose Serrano (D-NY) started proposing the repeal of the 22nd Amendment 12 years ago during the Clinton Administration, and continued it through the Bush Administration, and now has started off the Obama Administration with his biennial attempt to do away with term limitations on the presidency. I checked this out on a variety of independent sites and it all checks out.
Personally, I can't think of many presidents during my lifetime who were so indispensable to the Republic that they deserved a second term, let alone more than two terms. Fortunately the bar to amend the Constitution is quite high -- 2/3 majority in both houses and ratification by 3/4 of the states. (US Constitution, Article V)