One thing standing in his way is the 22nd Amendment to the US Constitution;
The Twenty-second Amendment of the United States Constitution sets a term limit for election to the office of President of the United States. The Congress passed the amendment on March 21, 1947. It was ratified by the requisite number of states on February 27, 1951.
Amendment XXII
Section 1.
No person shall be elected to the office of the President more than twice, and no person who has held the office of President, or acted as President, for more than two years of a term to which some other person was elected President shall be elected to the office of the President more than once. But this article shall not apply to any person holding the office of President when this article was proposed by the Congress, and shall not prevent any person who may be holding the office of President, or acting as President, during the term within which this article becomes operative from holding the office of President or acting as President during the remainder of such term.
It took almost 4 years for this Amendment to be fully ratified an set into law. Therefore, it would be highly unlikely that he could overturn the 22nd Amendment during his term.
Considering the process required to add an Amendment I do not foresee it happening.
Here is process to create an Amendment found in Article V of the US Constitution;
Article V
The Congress, whenever two thirds of both houses shall deem it necessary, shall propose amendments to this Constitution, or, on the application of the legislatures of two thirds of the several states, shall call a convention for proposing amendments, which, in either case, shall be valid to all intents and purposes, as part of this Constitution, when ratified by the legislatures of three fourths of the several states, or by conventions in three fourths thereof, as the one or the other mode of ratification may be proposed by the Congress; provided that no amendment which may be made prior to the year one thousand eight hundred and eight shall in any manner affect the first and fourth clauses in the ninth section of the first article; and that no state, without its consent, shall be deprived of its equal suffrage in the Senate.
I am well aware of the Constitution and the 2 term issue, I was simply stating that I heard that this is what Obama Wants, not what is going to ever be able to happen. I was attempting to gain some thought about the statement put out there on Fox News Radio, by the way they stated this same thing again this morning. I agree with you that it is not likely to ever happen for him or any other president. Thanks for the response!