NEW YORK, Oct 21 (Reuters) - The growth of private

markets could mitigate the economic impact of wide U.S. deficits

and high government debt levels, said Larry Fink, CEO and

chairman at BlackRock ( BLK ).

Speaking at the Securities Industry and Financial Markets

Association annual meeting in New York on Monday, he said rising

U.S. government debt is a "big problem" but that private capital

markets can help the U.S. economy grow without adding to the

deficit.