Hire A Hero Act of 2011 - Amends the Internal Revenue Code to: (1) allow employers a work opportunity tax credit for hiring a member of the Ready Reserve or the National Guard, and (2) make such credit permanent.
Rescinds the amount of appropriated but unobligated discretionary funds determined by the Director of the Office of Management and Budget (OMB) to be equal to the reduction in tax revenues resulting from this Act. Exempts unobligated funds of the Department of Veterans Affairs (VA) or the Social Security Administration (SSA). Requires the Director to identify to which appropriation accounts such rescissions shall apply and report to the Secretary of the Treasury and Congress on such rescissions.