Me too. The citric acid in the lemon breaks up the mucus and is also antimicrobial. The honey coats your throat and soothes it, which will help to prevent irritation and further inflammation, and is apparently antibacterial too.
Scots commonly refer to this as a hot toddy, and as well as the lemon juice and honey we'll add a healthy dose of whisky. Adding pepper or cinnamon is common too.
I substitute hot chamomile tea for whiskey or water with my lemon and honey when sick. Extremely soothing and performant during flu season. For some reason, alcohol of almost any sort just makes me feel worse if I have a cold.