Moses reminded Israel in Deuteronomy 8:18 - "And you shall remember the LORD your God, for it is He who gives you power to get wealth, that He may establish His covenant which He swore to your fathers, as it is this day." A nation who has forgotten God can print money at a mind-numbing rate and still never truly prosper.
Jesus asked rhetorically in Matthew 16:26 - "For what profit is it to a man if he gains the whole world, and loses his own soul? Or what will a man give in exchange for his soul?" One eternal spirit is worth more than any amount of money one can even imagine (which is a whole lot more than you may have lost in your retirement account recently).
Proverbs 22:7 - "The rich rules over the poor, and the borrower is servant to the lender." We may not consider it to be slavery in the formal sense of the term, but the servitude is real enough. Do everything within your power to live debt-free. Don't allow the bank or credit card companies to become your master!
Our Lord instructed His disciples in the Sermon on the Mount in Matthew 6:33 - "But seek first the kingdom of God and His righteousness, and all these things shall be added to you." It is good to labor and earn money to provide for our families. But, may we never forget that prosperity is not our chief aim.
Jesus warned in Luke 12:15 - "Take heed and beware of covetousness, for one's life does not consist in the abundance of the things he possesses." Possessions may entertain and excite (for a while), but a good life (as defined by God) is not based upon such (cf. Eccl. 12:13).
Remember the words of the Lord Jesus - "It is more blessed to give than to receive" (Acts 20:35). This is true even for those who are struggling economically. God will always bless a cheerful giver!
Whether it is called "welfare" or is known by some other name, to provide for one who is capable of providing for himself is wrong. Paul plainly preached in II Thessalonians 3:10 - "If anyone will not work, neither shall he eat." It is not compassionate to feed the lazy. This is one case in which we should not give.
Abraham did not want any earthly king to make him rich. Genesis 14:22-24 records - "But Abram said to the king of Sodom, 'I have raised my hand to the LORD, God Most High, the Possessor of heaven and earth, that I will take nothing, from a thread to a sandal strap, and that I will not take anything that is yours, lest you should say, "I have made Abraham rich"--except only what the young men have eaten, and the portion of the men who went with me: Aner, Eshcol, and Mamre; let them take their portion.'"
Colossians 3:5 - "Therefore put to death your members which are on the earth: fornication, uncleanness, passion, evil desire, and covetousness, which is idolatry." When a person, whether rich or poor, loves money, he is an idolater.