In this paper I discuss Künne’s Modest Theory of truth, and develop a variation on a worry that Field expresses with respect to Horwich’s related view. The worry is not that deflationary accounts are false, but rather that, because they take propositions as truth-bearers, they are not philosophically interesting. Compatibly with the intuitions of ordinary speakers, we can understand proposition so that the proposals do account for a property that such truth-bearers have. Nevertheless, we saliently apply the truth-concept also to (...) entities such as utterances or assertions , and the de flationary accounts do not provide a similarly deflationary account for those applications. In fact, there are good reasons to suspect that no such account would be forthcoming; we need something more substantive or in flationary there. (shrink)