Neutralists reject the neo-Quinean view that first-order logical quantifiers and singular terms are devices of ontological commitment. Jody Azzouni's deflationary nominalism exemplifies this approach. His treatment of first-order quantifiers as ontologically neutral is defended and his theory of singular reference is extended by offering a deflationary theory of reference as well. A deflationary view of truth is also defended, enabling one to avoid the fictionalist extreme of denying the truth of elementary arithmetic.