I critically examine the semantic view of theories to reveal the following results. First, models in science are not the same as models in mathematics, as holders of the semantic view claim. Second, when several examples of the semantic approach are examined in detail no common thread is found between them, except their close attention to the details of model building in each particular science. These results lead me to propose a deflationary semantic view, which is simply that model construction (...) is an important component of theorizing in science. This deflationary view is consistent with a naturalized approach to the philosophy of science. (shrink)