Maximizing America's Prosperity Act of 2011

[AI summary unavailable — showing source text] Maximizing America's Prosperity Act of 2011 - Amends the Balanced Budget and Emergency Deficit Control Act of 1995 (Gramm-Rudman-Hollings Act) to require: (1) the Office of Management and Budget (OMB) to prepare a report comparing projected total spending in such Act and the total spending limits (for FY2013-FY2021 and ensuing fiscal years), to be included in the President's annual budget; and (2) the Congressional Budget Office (CBO) to prepare a similar report and include it in the CBO annual baseline and reestimate of the President's budget. Requires the reports to be included in spending reduction orders. Requires a specified reduction each fiscal year for unfunded federal mandates. Amends the Congressional Budget Act of 1974 (CBA) to set aside for emergencies 1% of new budget authority and outlays allocated to the Committees on Appropriations for the first fiscal year of a concurrent budget resolution. Amends the Gramm-Rudman-Hollings Act to prescribe requirements for CBO and OMB sequestration preview reports regarding discretionary and total spending limits. Prescribes administrative procedures for spending reduction orders. Exempts from such orders: (1) payments for net inte…