Would anyone really want Clinton for life or Bush for life? Leave the 22nd amendment alone. If anything reduce it to one term... hmmm maybe half a term.
Well, Jimmy Carter supported the idea of a single 6-year term. That automatically makes it a bad idea.
Eventually, they'd lose the next election.
I don't really support the 22nd amendment unless there are other term limits as well.
Even so, I think presidents should leave office after 2 terms. Both Clinton and Reagan could probably have won re-election to a 3rd term, but people get tired of the same old thing, and their standing in history is often better if they leave office after 2 terms.
Most officeholders should follow this rule. It's when they stick around too long in the same job that they start screwing up, and end up ruining their reputations.