Why is the_content() function truncated?

Because I’m setting up a site with a secondary blog, I’m creating up a page template to pull in my blog posts. So I created a page called Blog and a specific template for that page.
Querying posts like so at the top of the page:
query_posts('cat=-5,-3,-7' );

Then the loop:

<?php while (have_posts()) : ?>
<?php the_post(); [extra code removed]
the_content();

	<?php endwhile; ?>

I’m finding that on this template, I’m only getting an output of maybe 10 or 20 characters. What gives? Is there a obvious setting that I’m missing? I was under the impression from reading the Codex that the_content() would output all a post??

Thanks!

Chuck