To increase the statutory limit on the public debt, increase job creation, and reduce projected medium and long-term Federal budget deficits and debt.

Don't Default on America's Debts and Destroy American Jobs Act of 2011 - Increases the statutory limit on the public debt from $14.294 trillion to $16.7 trillion. Declares the sense of Congress that the congressional recess scheduled for August 2011 should be cancelled and that Congress should remain in official session until legislation is passed to: (1) increase job creation and reduce unemployment, and (2) reduce projected medium- and long-term federal budget deficits and debt.