Differences between java.util.Date and Joda Time APIs

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Should I use Java date and time classes or go with a 3rd party library like Joda Time?

I could use some guidance about when it's worth using Joda Time rather than the basic java.util.Date class. What are the benefits? Does Joda Time let you do anything you can't do with the Date class, or is it just easier to work with or what?

Also, I've seen conflicting info about whether Joda Time is part of the standard API. Is it standard or not?

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