Social Security for Americans Only Act of 2011 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to: (1) prohibit the wages earned, and self-employment income derived, by individuals who are not U.S. citizens or nationals from being credited for coverage under the OASDI program; and (2) authorize the President to enter into (totalization) agreements with other nations to resolve entitlement and participation questions about their respective social security systems, taking into account such limitation on the crediting of wages and self-employment.