Expedited Consideration of Terminations, Reductions, and Savings Act of 2011 - Amends the Congressional Budget and Impoundment Control Act of 1974 to authorize the President to propose to carry out all or part of the recommendations contained in the most recent Terminations, Reductions, and Savings prepared by the Office of Management and Budget (OMB).
Sets forth requirements for the President's transmittal to Congress of a special message regarding such proposal, including a draft bill or joint resolution to carry it out.
Prescribes procedures for expedited congressional consideration of the legislation.
Makes it out of order in both chambers to: (1) consider an amendment to such legislation; or (2) entertain a motion to suspend this prohibition, including by unanimous consent.