Cyber Security and American Cyber Competitiveness Act of 2011 - Calls for the enactment of bipartisan legislation to secure the United States against cyber attack, enhance American competitiveness and create jobs in the information technology industry, and protect the identities and sensitive information of American citizens and businesses by: (1) enhancing the security and resiliency of U.S. government communications and information networks against cyber attack; (2) incentivizing the private sector to quantify, assess, and mitigate cyber risks to networks; (3) promoting investments in the American information technology sector; (4) improving the capability of the government and the private sector to assess cyber risks and prevent, detect, and respond to cyber attacks; (5) preventing and mitigating identity theft; (6) enhancing U.S. diplomatic capacity and international cooperation to respond to emerging cyber threats; (7) protecting and increasing the resiliency of U.S critical infrastructure and assets against cyber attacks; (8) expanding resources for investigating and prosecuting cyber crimes in a manner that respects privacy rights and civil liberties and promotes American innovation; and (9) maintaining robust protections of the privacy of American citizens and their on-line activities and communications.