Will Wilkinson has a mostly very good piece up arguing not exactly that Ron Paul should be getting more attention in the press, but if I follow him correctly that whatever the appropriate coverage is of Michele Bachmann, Ron Paul should be getting more or less the same amount. I've been increasingly thinking that Paul and Bachmann are actually a pretty good match, so I'm glad to see his argument.
Kevin Drum has a good response, though, centering on Paul's 2008 run, and arguing that the real difference between Paul and Bachmann is that we already know Paul's ceiling, and it's far too low to make him a plausible nominee.
How else can we explain it? I'd say there are a couple of press biases at work. One is the obvious and important bias in favor of novelty: nothing (so far at least) about the Ron Paul campaign is new, while everything about Bachmann is new. I wouldn't underrate the importance of a "fooled us once" aspect to the Paul story, also. The highly visible aspects of the 2008 Ron Paul campaign wound up spooking a lot of reporters into wondering if they were missing a huge phenomenon. Since they weren't, it's going to be hard for them to extrapolate anything from Paul this time around. Bachmann, to the extent that she is thought of as a Tea Party leader, has something of the opposite situation; Republicans accused of being too extreme to win in 2010 did, in fact, win. So it's natural (whether correct or not) that reporters tend to give Paul less credit and Bachmann more for their objective measures of success.
But the truth is that while Bachmann and Paul have some important similarities (Members of the House, moderately popular in polls, fringe beliefs even within the GOP) their is one important difference that justifies a difference in press treatment. Bachmann's issue position profile compared to the rest of the GOP is basically: the same, only more so. Paul, however, really does oppose most Republicans on several issues, most notably by opposing the bulk of the party on a broad range of foreign policy and national security issues. If Bachmann could convince Republican party actors that she was electable and that she could be counted on to work closely with them if she was in the White House, then she might win, but there are simply too many important Republican individuals and groups who oppose Paul's policy preferences for him to have any chance of winning. I don't really think that's why the press covers one and not the other, but it is one of the things that should be guiding their coverage decisions.