NEW : House Speaker Boehner reiterates opposition to tax increases . In his opening remarks after the Senate reconvened , Reid , D-Nevada , accused Republicans of putting the nation 's economic recovery at risk by threatening to oppose an increase in how much money the government can borrow . NEW : The White House says it will not negotiate with the Republicans over raising taxes on families making more than $250,000 a year, and that President Obama is willing to compromise if they agree to raise revenues by closing loopholes Senate leaders renew tough talk as the chamber reconvenes . Officials warn debt ceiling must be increased by August 2 to avoid risk of default .
NEW : House Speaker Boehner reiterates opposition to tax increases . NEW : The White House says it will not negotiate with the Republicans over raising taxes on families making more than $250,000 a year, and that President Obama is willing to compromise if they agree to raise revenues by closing loopholes Senate leaders renew tough talk as the chamber reconvenes . Officials warn debt ceiling must be increased by August 2 to avoid risk of default .