Weigh in on Bond Rating

The town of Oyster Bay received an economic setback, with the report this week that Standard and Poors has downgraded their credit rating.

The rating service has dropped the town from AA to a, meaning that Oyster Bay may have to borrow money at less desirable interest rates.

Newsday reported the town had an estimated general fund balance deficit of $655,000 last year and was planning to sell bonds to cover a $13 million shortfall this year.

But the town's 2012 budget did not include a tax increase.

We want to know what you think of all this and how the lowered bond rating will affect the town.

Take our poll below and weigh in with your comments.