Is there a way to setup the site Recycle Bin that it will not automatically delete items more than 14 days old?
When a user deletes an item, the item is automatically sent to the first-stage Recycle Bin. By default, when an item is deleted from the first-stage Recycle Bin, the item is sent to the second-stage Recycle Bin. A site collection administrator can restore items from the second-stage Recycle Bin.
As Paul mentioned in his answer how to configure it. By default it is 60 days for 1st stage recyclbin and 50% of the site collection quota for 2nd stage.